With little excitement in the currency markets O/N, US benchmark yields have backed up a tad ahead of this mornings US GDP report. Treasuries have managed to snap a two-day rally that sent five-year yields to a record low yesterday (+0.75% intraday) as the market expects the report to show that US growth quickened in the last quarter of 2011 (+3% vs. +1.8%, q/q).
Yields along the curve are trading higher for different reasons. The shorter end, out to 5’s, [...] read more
US Yields Move Ahead of GDP
Retail Sales
The Retail Sales report provides feedback on consumer spending and is one of the first reports available each month that tracks retail spending patterns. This report provides feedback on consumer goods exclusively; spending on services such as health care and education is not included in the Retail Sales report. Also, the report is published without adjusting for inflation, so to get a true measure of changes in retails sales spending, you must adjust accordingly.
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